Samsung has been incredibly successful with its latest flagship smartphone, the Galaxy S III. The company sold 20 million units in the first 100 days the smartphone was available.

Now, however, Samsung believes that there's a market in Europe for a version of that smartphone with a smaller screen. The Galaxy S III has a massive 4.8-inch screen and Samsung believes that a version of the phone with a four-inch screen would be popular in Europe to compete directly with the iPhone 5.

So, I'm having trouble finding that exact SoC (U8420), BUT judging by the model number, it will probably be similar to the STE U8500, which is a dual Cortex-A9 + Mali 400 that Samsung is already using in some entry level phones.http://en.wikipedia.org/wiki/NovaThor

I'm a little disappointed. Better SoC + higher res. screen and this would be at the top of my "to buy" list. I guess I'll get a Razr M.

Samsung is taking a gamble on the branding of the Galaxy S3 with this one. They've already tarnished the Galaxy brand by releasing very entry level phones with it such as the Galaxy Precedent on Boost Mobile. I get that Samsung wants to build on the GS3 brand since it's so widely recognized, but to tarnish the GS3 brand by naming an inferior mini version with the S3 moniker doesn't make sense to me. I think it is likely to cause confusion among normal customers.

I've already heard rumblings of normal people talking about the iPhone5, saying they know someone that has it but they don't think it would work for them because it doesn't come with Google any longer and they need Google on their phone. This is typical of many people getting half of the story. Now extend that to the GS3 Mini and I can hear people saying they've heard the new GS3 is too small, slow, etc. when, in fact, it's nothing like the real GS3.

Very true, I've heard similar things about people interpretation of the iPhone 5 and google. Everyone just hears it through the mainstream media filter which always dumb down the facts in the worst ways.